In 2006, IMPACT Community Capital created a private fund of funds to finance commercial real estate and drive economic development in low-to-moderate income census tracts. This was one of the first investments for IMPACT in the equity space, aimed at urban infill targeting local underserved communities. Two years later, IMPACT created a private fund of funds to invest in mezzanine debt, with a focus on smaller growth companies to drive the creation of quality jobs. These two investments were new opportunities for IMPACT’s investors to branch out from traditional investment vehicles and expand impact in new areas beyond affordable housing.